ALG Software signs three for cost management kit

ALG Software signs three for cost management kit

ALG Software has signed European securities depository Euroclear, US payments systems vendor Checkfree and Austria's Erste Bank to its activity-based management (ABM) software.

ALG says its ABM software provides a view of the costs of core processes and the profitability of products, customers and channels.

The system allows business managers to see the effect potential changes in the business have on unit costs, weigh up the effects of capital investment and carry out "what if?" scenarios to model costs and profitability in the future.

Ewald Seidl, financial controller at Erste Bank, says the product will be used to determine individual costs across the business - processes currently performed using an Access database.

"Following a number of acquisitions and speedy expansion into Central and Eastern Europe, it was increasingly difficult to get effective results from our complicated Access database," he says. "We needed a solution that can form a data bridge and gather data from all our different systems across our business and ALG enables us to do that.".

Richard Barrett, VP global marketing at ALG Software, says: "The newer generation of Web-based ABM applications removes much of the drudgery from doing Activity-Based Costing, making routine monthly reporting the benchmark for good practice."

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